Issue: 1243 Date: 6/19/2014
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Missouri Has Yet To Pay Out $113 Million In State Tax Refunds
Thousands of Missourians are still waiting for state income tax refunds, nearly two months after the April 15 filing deadline.
As of today, Michelle Gleb, director of communications for the Missouri Department of Revenue, said 260,826 tax refunds are pending; the refunds total almost $113 million. Gleba says the department is working to get the refunds out as quickly as possible and as cash flow allows. They expect all refunds to be made by the end of June.
The delay can be partially blamed on Missouri's revenue collections in May, which were 3 percent, or nearly $20 million, below what they were a year ago at this time.
Some state income tax refunds were also delayed in 2009 due to the economic downturn. That prompted the state to borrow $325 million from its reserve fund that year